Residents of Arizona will be Able to Pay their Taxes in Bitcoins

Novinite.com12 Feb 2018, 23:09 GMT+10

Arizona may become the first US state, residents are expected to soon be given the opportunity to pay their taxes in bitcoins and other cryptocurrency. The Daily Express announced that the bill was passed by the Senate last week. This bill received the support of 16 senators, 13 of whom voted against, and the document was adopted. The bill is now due to be submitted to the Arizona Chamber of Deputies.

The Senate Finance Committee approved the project as early as January. Jeff Wyndiger, a representative of the Republican Party, said these changes in state tax legislation are meant to make Arizona a more comfortable place to live for new technology users. He believes that in this way Arizona sends a clear signal to the US and the whole world, the state will be open to the blockchain and digital currencies.

At the same time, Democratic Party spokesman Steve Firley warned that the bill transfers the volatility of the digital currency to taxpayers' shoulders. He also noted that the digital money would go to the State Treasury, and then Arizona would be responsible for transforming and converting the cryptocurrency.

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